International Development Bank of the World Gk Notes

Here we will discuss some International Development Banks which give loans to other countries. World Bank, International Monetary Fund, Asian Development Bank, Asia Infrastructure and Investment Bank and New Development Bank.

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International Development Banks of World

1. World Bank: This bank is started by America after world war 2 to uplift the economy of the world. This bank is started in 1945. World Bank provides long term loan to any country for its development and infrastructure. Its main mission is to end poverty by reducing the share of the global population which lives in extreme poverty.

• Head Quarter: Washington DC
• No. Of members: 189
• HEAD: Zim Yong Kim

2. International Monetary Fund: This bank gives short term loan to countries all over the world.It stabilises the global economy by identifying global conditions and risks and then provide short term loans to prevent the financial crisis in any country of the world.

• Head Quarter: Washington DC
• HEAD: Christiana Legardy
• No. of members: 189

3. Asian Development Bank: This bank was started in 1966.Its main motto is to fight poverty in Asia Pacific region.ADB gives the hard loan to middle-income countries to Asia and soft loans with the lower interest to the poorest country in Asia.

• Head Quarter: Manilla, Philippines
• Number of members: 67
• Head: Tekhio Nakao

4. Asian Infrastructure and Investment Bank: This bank was started in 2016 with an investment of 100B$.Its aim is to a building of infrastructure in Asia Pacific region.

• Head Quarter: Beijing, China
• Head: Jin Liqun
• No of members: 80

The biggest share of few countries are as follow:

1. China's share: 30.33%
2. India's Share: 8.52%
3. Russia's share: 6.66%

5. New Development Bank: This bank was started with an investment of 100B$. It is also known as BRICS. BRICS is an acronym of five major emerging national economies: Brazil, Russia, India, China and South Africa.

• Head Quarter: Shanghai, China
• Head: K.V. Kamath
• No of members: 5

The share of countries:

1. B- Brazil ( 18% share)
2. R- Russia( 18% share)
3. I-India( 18% share)
4. C-China( 41% share)
5. S- South Africa( 5% share)

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